In 2015, EXIM Thailand will enhance its proactive role in assisting Thai businesses in taking advantage of trade and investment opportunities arising in the advent of the ASEAN Economic Community (AEC), promote small and medium enterprises (SMEs), and strengthen cooperation with external agencies in both public and private sectors to better respond to Thai entrepreneurs’ needs. This will help the Bank to realize its vision: “To be a bank that paves the way for new opportunities for Thai businesses in the global arena, particularly in the ASEAN Economic Community (AEC).” In addition, the Bank will also pursue its corporate development based on the Ministry of Finance’s State Enterprise Performance Appraisal (SEPA) guidelines to further boost its operational efficiency.
Strategic Targets under the Enterprise Plan 2015-2019
• Enhance competitiveness of Thai exporters, importers and investors abroad
by strengthening its role in promoting and supporting SMEs, ensuring proactive operations to leverage on trade and investment opportunities arising in the advent of the AEC, and promoting entrepreneurs engaging in national economic development projects relating to energy and alternative energy, logistics, and development of infrastructure and public utilities.
• Strengthen the financial position
to ensure appropriate level of income growth and asset quality by maintaining the Bank’s commercial customer base to serve as a source of income for the Bank’s operation, ensuring efficient financial cost and asset quality management to maintain income adequacy for sustainable achievement of the Bank’s mission.
• Ensure ability to meet the customers’ needs with focus on building customer satisfaction through provision of credit facilities for export, import, domestic and international investment, credit insurance, as well as dissemination of trade and investment information and knowledge.
• Ensure managerial efficiency by putting in place management guidelines for various areas including corporate governance, social responsibility, information technology system, work structure and system that are efficient, and employee morale and well-being, so as to enable achievement of the Bank’s objectives and targets.
Key Operational Plans and Investments for 2015
The Bank developed its operational plans for 2015 in line with its six-faceted mission. Emphasis is given to promoting Thai business operators’ international trade and investment and integrating cooperation with external public and private agencies to achieve the strategic goals under the Enterprise Plan. Details are as follows:
To bolster SMEs’ confidence in starting or expanding their business in the existing or new markets and to narrow the gap caused by inadequate support from other financial institutions, as well as to respond to the government measure to assist SME exporters, EXIM Thailand, in 2015, will continue its support to SMEs through two special packages, namely “SMEs Export Delight” and “SMEs Border Trade” in addition to its regular short- and long-term credit facilities, and through SMEs knowledge development to prepare them for the AEC. These activities will enable the Bank to better respond to SMEs’ needs.
The Bank will enhance its proactive role in supporting Thai entrepreneurs in trade and investment in the AEC. The advent of AEC in 2015 will lead to a gradual phase-out of barriers to investment flows among ASEAN members, thereby broadening investment opportunities in this region for Thai investors. In 2015, the Bank will implement special programs to support entrepreneurs to promote investment in the AEC in the form of financial support and development of knowledge base on overseas trade and investment for investors.
To support and promote investment projects that contribute to the country’s economic development, including, energy and alternative energy, logistics, infrastructure and public utilities projects, and to enhance Thai entrepreneurs’ competitiveness, in 2015 the Bank has set out support plans for alternative energy development projects, entrepreneurs engaging in the country’s telecommunication infrastructure industry and related industries, industrial estate developers and related industries, business operators in industrial estates and special economic zones, and merchant marine operators and other logistics providers.
In order to boost competitiveness and build confidence among Thai entrepreneurs and exporters, EXIM Thailand continues its role in reducing risks associated with trade, service and investment overseas particularly in the high risk markets with trade and investment potentials through provision of short-, medium- and long-term export credit insurance and investment insurance services, and arrangement of training programs to provide knowledge and build risk management awareness, as well as introduction of trade and investment risk mitigation tools for Thai entrepreneurs. The Bank’s operational plans in 2015 include risk mitigation and competitiveness enhancement plan for SMEs conducting international trade and risk mitigation plan for offshore trade and investments.
To better respond to the offshore trade and investment needs of operators, the Bank will further develop integrated plans to cooperate with external agencies in the public and private sectors to give financial and non-financial supports to SMEs and entrepreneurs engaging in trade, service provision and investment in the AEC and beyond, such as the Ministry of Industry, Ministry of Commerce, the Office of SMEs Promotion (OSMEP), the Board of Investment (BOI), Secretariat Office of Community Enterprise Promotion Board (SCEB), Community Development Department, the Thai Chamber of Commerce, Board of Trade of Thailand, Thai National Shippers’ Council (TNSC), government agencies and financial institutions abroad, etc.
to increase operational and managerial capabilities.
6.1 Corporate development
In 2015, the Bank will continue to promote human resources development to ensure operation and service efficiency. The key plans include human resource capacity development, promotion of corporate value and culture awareness, corporate governance, corporate social responsibility, as well as corporate development plan based on the State Enterprise Performance Appraisal (SEPA) guidelines to ensure more efficient and systematic business operations and management.
6.2 IT development
Improvement of IT systems both in regard to the core banking and supporting systems is essential to accommodate the Bank’s business growth. The Bank’s key plans and projects in 2015 are infrastructure improvement, both IT network and equipment, and development of the core banking systems carried on from 2013 involving trade finance, loan, deposit and data warehouse.
During 2013-2015, the Bank’s major investments concentrated in the area of core banking development consisting of work systems such as trade finance, loan, deposit, export credit insurance and data warehouse, with the total budget of 344.60 million baht. Progress made in 2014 is as follows:
• Core banking system relating to trade finance, loan, and deposit:
System development is underway and expected to be ready for roll-out by 2015.
• Export credit insurance system:
All 3-phase development was completed, covering the replacement of the existing system and development of claim and reinsurance work systems.
• Data warehouse:
Development of data warehouse started with the development of database systems or data mart, which was rolled out for implementation in 2014. Phase 2 development has been in process to accommodate the reporting under the new core banking system, the completion of which is expected by 2015.